An Elephant Bond is a type of bond that is denominated in Indian Rupees. The primary purpose of these bonds is to raise funds that are earmarked for infrastructure projects within India. A high-level trade panel has estimated that with the help of Elephant Bonds, India could potentially recover up to $500 billion of black money that is currently stashed abroad. You can check out our detailed explanation on Masala Bonds – Benefits, Features & Significance in the provided link.
According to the panel's report, Elephant Bonds could provide a safe and legal avenue for individuals to bring back their undisclosed offshore wealth to India, without the fear of any legal repercussions.
Further readings you may find interesting:
- Electoral Bonds – An Introduction, Context, Importance & Significance
- Types of Bonds – Understanding the Basics, General Features, and Characteristics